This is a purely theoretical question but what happens if a Facebook page has only one admin and his or her account gets cancelled, for example due to terms of use violation? Is the page removed from Facebook? Is there any way to still manage it?

I am not sure it works this way. I have had one personal account blocked already and it did not cause one of the fan pages I have created to be removed, other admins were still able to manage it and add my new account to the admin list. Facebook has not seemed to care I was the original creator of the page.
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wssbckJul 21 '11 at 7:10